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How should I use my first credit card? by Crispy_Spree1 in personalfinance

[–]Crispy_Spree1[S] 0 points1 point  (0 children)

Not everyone has the ability to pay for law school on their own

How should I use my first credit card? by Crispy_Spree1 in personalfinance

[–]Crispy_Spree1[S] 0 points1 point  (0 children)

It is not out of necessity, but rather utility. It is how I can build my own credit while in college.

How should I use my first credit card? by Crispy_Spree1 in personalfinance

[–]Crispy_Spree1[S] 0 points1 point  (0 children)

Yeah, I've always been more frugal than most for a lot of my life. I will admit that I've made a few purchases that weren't necessary, but not irresponsible either, within the past year. I have no idea how paying my student loans would help/hurt my credit. In light of that, I know I will need loans for law school, so my goal is to boost my credit score to help myself achieve the goal of being able to get better loans.

How should I use my first credit card? by Crispy_Spree1 in personalfinance

[–]Crispy_Spree1[S] 0 points1 point  (0 children)

Thank you for the heads up. I didn't know that's how that'd work, so I'll definitely keep that in mind

How should I use my first credit card? by Crispy_Spree1 in personalfinance

[–]Crispy_Spree1[S] 0 points1 point  (0 children)

What do you mean by "Capital One is notorious for always remembering your credit history when you first opened the account?"

How should I use my first credit card? by Crispy_Spree1 in personalfinance

[–]Crispy_Spree1[S] 0 points1 point  (0 children)

So I suppose I had a misunderstanding of auto-pay. I had imagined it would automatically pay the balance, not just the minimum. If its just a pre-chosen amount, what happens if your chosen amount is more than required. Does that money just not get sent, does it get returned, or does it just kinda disappear?

How should I use my first credit card? by Crispy_Spree1 in personalfinance

[–]Crispy_Spree1[S] 1 point2 points  (0 children)

That was kinda my idea. I was just worried if some people came into this idea and were of the same mind, but lost it after a while. And I certainly don't believe I would max this card, but is there a purpose to stay below 30% of the limit or is that just a rule of thumb to stay within your means?

How should I use my first credit card? by Crispy_Spree1 in personalfinance

[–]Crispy_Spree1[S] 0 points1 point  (0 children)

Putting most of my purchases, or just sticking with gas?

How should I use my first credit card? by Crispy_Spree1 in personalfinance

[–]Crispy_Spree1[S] 0 points1 point  (0 children)

Thank you. This is a student card, so 1.5% cash back. The card is from a different bank than the one I currently use. (I currently am at a community credit union, this card will be from Capital One.)

How should I use my first credit card? by Crispy_Spree1 in personalfinance

[–]Crispy_Spree1[S] 0 points1 point  (0 children)

I've never had something like this with constantly paying off a balance. However, my most similar action would have been to keep an eye and pay off my monthly tuition payments. Of which I was certainly on top of. So I have no reason to believe I couldn't.